Answer:
None of these choices are correct.
Step-by-step explanation:
The quoted value of 99.875, means that this bond is sold at 99.875% of the face value and not at a price of $99.875.
Therefore, calculate price;
Price = 0.99875 * 1000
Price = $998.75
Since brokerage fees is 5.5% of the selling price, Leona will pay additional cost to the quoted price making the total cost to be more than $998.75;
Brokerage fees = (0.055*998.75) = $54.93
Total cost = $998.75 +$54.93
= $1053.68
Therefore, none of the choices is correct.
Answer:
307.5$
Step-by-step explanation:
150$. 105% of it added.
Since 105% is 1.05, multiply the percentage by the cost to get the money added.
150*1.05=157.5
Then ADD it to the price/savings.
150+157.5=307.5$
Value + value = 14 dollars
0.65x + 10-0.40x = 14
0.25x = 4
x = 16
25-x =9
